- Exxaro Tiles is engaged in the manufacturing and marketing of vitrified tiles used majorly for flooring solutions. They commenced business as a partnership firm in 2007-08 as a manufacturer of frit, which is one of the raw materials used in the manufacturing of tiles, and have over the years, diversified, expanded, and evolved into a manufacturer for vitrified tiles.
- The company is promoted by Mukeshkumar Patel (CEO & Managing Director), Dineshbhai Patel, Rameshbhai Patel, and Kirankumar Patel.
- The company reported a net profit of Rs 152.23 crore and revenue from operations of Rs 2,551.45 crore in the twelve months ended 31 March 2021
- The business operations are broadly divided into two product categories: Double Charge Vitrified Tiles and Glazed Vitrified Tiles
- Shares of Exxaro Tiles were currently trading at Rs 127.40, at a premium of 6.17% compared with the issue price of Rs 120 per share.
- So far, the stock has hit a high of Rs 132.30 and a low of Rs 126.
- The initial public offer of vitrified tile manufacturer Exxaro Tiles received bids for 25.96 crore shares as against 1.14 crore shares on offer, according to stock exchange data. The issue was subscribed 22.68 times.
- The qualified institutional buyers (QIBs) category was subscribed 17.67 times. The retail individual investors (RIIs) category was subscribed 40.10 times. The non-institutional investors (NIIs) category was subscribed 5.36 times.
- The issue was opened for bidding on Wednesday (4 August 2021) and it will close Friday (6 August 2021). The price band of the IPO was fixed at Rs 118-120 per share.
- Exxaro Tiles on 3 August 2021 finalized allocation of 19,73,325 equity shares to anchor investors, at Rs 120 per equity share, aggregating to Rs 23.68 crore.
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